Quant Mutual Fund picked up a 2.6% stake in luxury watch retailer Ethos as UK-based Jupiter Fund Management exited its holding, while BofA Securities Europe SA bought Rs 385 crore worth of shares in Kalyan Jewellers through separate block deals on the NSE on July 10.
Key Takeaways
- Quant Mutual Fund acquired 7 lakh shares, a 2.6% stake, in Ethos for Rs 175 crore at Rs 2,500 apiece
- Jupiter Fund Management exited a combined 2.7% stake in Ethos across two of its schemes
- BofA Securities Europe SA bought 81.82 lakh shares, a 0.79% stake, in Kalyan Jewellers for Rs 385.33 crore
- Ethos shares closed 1.94% lower at Rs 2,477.50; Kalyan Jewellers surged 7.5% to Rs 476.15
- TPG Growth IV trimmed its Solara Active Pharma holding; Wave Capital exited part of its Ortin Global stake
Quant MF Steps In As Jupiter Exits Ethos
Sandeep Tandon-led Quant Mutual Fund acquired a 2.6% stake in Ethos, the listed luxury watch and premium lifestyle retailer, through an open market transaction on July 10. The fund bought 7 lakh shares at Rs 2,500 apiece, taking the total deal size to Rs 175 crore.
The seller on the other side of the trade was Jupiter Fund Management, a UK-based asset manager, which offloaded a combined 2.7% stake in Ethos through two of its India-focused schemes. Jupiter Global Fund–Jupiter India Select sold 2.23 lakh shares worth Rs 55.84 crore, while Jupiter India Fund sold 4.99 lakh shares valued at Rs 124.8 crore.
As per the March 2026 shareholding pattern, Jupiter India Fund alone held a 2% stake, or 5.34 lakh shares, in the company, indicating the scheme has largely exited its position.
Ethos shares witnessed heavy trading volumes on the NSE through the session and ended 1.94% lower at Rs 2,477.50, even as the stake changed hands at a premium to the closing price.
BofA Buys Into Kalyan Jewellers
In a separate block deal, BofA Securities Europe SA purchased 81.82 lakh shares of Kalyan Jewellers India, equal to a 0.79% stake, for Rs 385.33 crore at Rs 470.95 apiece. The jewellery retailer’s stock rallied sharply through the day, closing 7.5% higher at Rs 476.15 on the NSE and emerging as one of Friday’s top gainers on institutional buying interest.
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Solara Active Pharma and Ortin Global See Stake Exits
TPG Growth IV SF Pte sold 3 lakh shares, or a 0.62% stake, in Solara Active Pharma Sciences for Rs 17.19 crore at Rs 573.20 per share. The private equity fund held a 2.61% stake in the pharma company as of March 2026. Solara shares closed 0.36% higher at Rs 568.90 on the NSE.
Separately, San Francisco-based Wave Capital sold 50,000 shares, or a 0.61% stake, in Ortin Global for Rs 8.12 lakh at Rs 16.24 per share. The fund held a 1.68% stake in the company at the end of March 2026. Ortin Global shares ended 1.04% higher at Rs 16.49.
Table: July 10 Block Deals At A Glance
| Stock | Buyer / Seller | Shares | Stake | Deal Value | Price/Share |
|---|---|---|---|---|---|
| Ethos | Quant Mutual Fund (Buy) | 7.00 lakh | 2.6% | Rs 175 crore | Rs 2,500 |
| Ethos | Jupiter Fund Management (Sell) | 7.22 lakh | 2.7% | Rs 180.64 crore | ~Rs 2,502 |
| Kalyan Jewellers | BofA Securities Europe SA (Buy) | 81.82 lakh | 0.79% | Rs 385.33 crore | Rs 470.95 |
| Solara Active Pharma | TPG Growth IV (Sell) | 3.00 lakh | 0.62% | Rs 17.19 crore | Rs 573.20 |
| Ortin Global | Wave Capital (Sell) | 0.50 lakh | 0.61% | Rs 8.12 lakh | Rs 16.24 |
Source: NSE bulk and block deal disclosures, Moneycontrol
Table: Closing Price Movement
| Stock | Closing Price | Change |
|---|---|---|
| Ethos | Rs 2,477.50 | -1.94% |
| Kalyan Jewellers | Rs 476.15 | +7.50% |
| Solara Active Pharma | Rs 568.90 | +0.36% |
| Ortin Global | Rs 16.49 | +1.04% |
Source: NSE
Check Live:
KALYAN JEWELLERS INDIA Options Chart
SOLARA ACTIVE PHARMA SCIENCES Share Price Chart
Bottom Line
Friday’s block deal activity saw institutional money rotate within Ethos even as the stock corrected on heavy volumes, while fresh foreign institutional buying lifted Kalyan Jewellers to a strong close.
Smaller stake exits in Solara Active Pharma and Ortin Global point to continued portfolio churn among global funds in mid-cap and small-cap names, a trend worth tracking into next week.
This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before making any investment decisions.
